EP#21: Understanding Big Data For Ecommerce With Cortex Commerce
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Mapping your customer’s journey is crucial for the success of your e-commerce business. For this reason, understanding big data for ecommerce is vital.
Big data, if you are not familiar with the term, is the ability to gather large sets of data to reveal pattern, trends, sequences with your customer behaviors. You might have heard the term before as it’s been the big excitement amongst techies these last few years.
Why does big data matter? Because, you can leverage big data to help you make educated decisions and save money with your marketing efforts. Big data helps you tailor, optimize, and improve your site – and of course make more sales.
Often, business owners will speculate reasons why customers aren’t buying from them. These speculations can be costly and in some cases paralyze the growth of that business.
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Josh started his first ecommerce company at 13. He became obsessed with ecommerce and technology in general. This obsession led him to start Cortex Commerce, a self-learning analytics platform that helps ecommerce store owners market and run their businesses more efficiently.
Josh breaks down types of big data information you can track and benefit from. Big data can provide you with a list of knowledge from overall customer flow, purchasing behaviors, brand messaging effectiveness, conversion rates, etc. It allows your business to make educated data-driven decisions. Your business choices are backed-up by data versus just your gut. The following helps you spend your money where it matters and fix issues efficiently.
Learn from Josh about best practices for gaining insight from your store’s data to improve your marketing and increase your sales.
Additionally, big data enables you to refine your brand messaging in real time. Josh discusses the power of prize optimization. An ecommerce giant like Amazon optimizes their price continuously throughout the day. Amazon plays with different pricing points to grab your attention. As a small business you can also leverage such tool to empower your business, Josh explains how.
Listen now to understand big data for ecommerce and opportunities it can hold for your business.
In this podcast, you will learn:
– How can big data help with your ecommerce sales
– Which data insights you should be tracking on your site
– How price optimization can affect sales
– How brands can get ready for Cyber Monday